Market Equilibrium

Economics
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The consumer is in equilibrium when __________.

A
the price line is parallel to the indifference curve
B
the price line is tangent to the indifference curve
C
the price line cuts the indifference curve
D
two indifference curves cut each other
Medium
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When is a market in equilibrium?

A
Quantity demanded equals quantity supplied
B
Excess demand and excess supply are zero
C
The market clears at the equilibrium price
D
All of the above
Medium
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When the law of demand operates the demand curve ____________.

A
slopes downward from left to right
B
slopes upward from left to right
C
slopes upward from right to left
D
parallel to horizontal axis
Medium
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The equilibrium price clears the market: It is the price at which ________.

A
everything is sold
B
quantity demanded equals quantity supplied
C
excess demand is zero
D
B and C
Medium
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